Latest Realty News

Panaji: The Real Estate (Regulation and Development) Bill, 2013, which is still pending in Parliament, has the Goan real estate industry worried. While stakeholders agree that the bill, once passed, will bring clarity and confidence into the real estate market, developers are wary about the lack of onus placed on the government, which they feel, is an important stakeholder in the real estate economy.

KOLKATA: The West Bengal Assembly today passed the Land Reforms (Amendment) Bill, 2013 which would prevent use of land, earmarked for township development, in excess of the prescribed ceiling for real estate purpose.

Against the backdrop of its continuous efforts to influence the government to take up several reform measures and policy changes, real estate body, the Confederation of Real Estate Developers’ Association of India (Credai), is holding a two-day national conference with a theme ‘Housing the game changer – Leading to double-digit GDP growth’ in New Delhi from December 13, 2013.

DELHI: The real estate regulation and development bill that seeks to protect home buyers from dishonest builders was tabled in the Rajya Sabha on Wednesday by minister of housing and urban poverty alleviation Girija Vyas.

DELHI: A bill seeking to protect home buyers from unscrupulous developers and builders and having provisions like jail term of up to three years for offences like putting up misleading advertisements about projects repeatedly, was introduced in Rajya Sabha on Wednesday.

MUMBAI: Private equity firms are eager to invest approximately $2 billion (Rs 11,854 crore) in the real estate market despite a drop in private equity investments in the first half of 2013, according to a new report.

BANGALORE: Anuj Puri, Chairman & Country Head, Jones Lang LaSalle India May be, The Bill will pave the way for transparency by regulating the housing sector. It covers all projects over 4,000 sq m in size and seeks to cover major private residential developments across the country. It will provide considerable relief to the ordinary buyer/investor who faces innumerable obstacles while buying property and is duped even by small developers, builders and brokers.

Bhubaneswar, Feb 28: Several industry and business organisations in the State Thursday showed mixed reaction to the Annual Budget 2013-14 presented by Finance Minister P Chidambaram, Thursday. While measures in the sectors of agriculture, rural development, education, health care and women empowerment were highly commended, little offerings to small and medium scale enterprises (SMSE) and failure of Government in controlling deficit financing were criticised.

For the real estate sector this budget didn't provide any proposals which could benefit the sector significantly. Additional interest deduction of Rs 1 lakh for low cost housing (where loan taken is less than Rs 25 lakh) in addition to the current deduction of Rs 1.5 lakh should be welcomed by the sector.

"One has to compliment the Finance Minister, Mr P Chidambaram, for addressing the nation's priorities in his budget for 2013-14," said Gagan Banga, CEO, Indiabulls Financial Services Ltd, adding, "he has presented a realistic and balanced budget, which is a good beginning."

MUMBAI/BANGALORE: Luxury homes for the rich would become more expensive after the finance minister today reduced the abatement on service tax availed by real estate developers for homes and flats above 2,000 sq ft or costing Rs 1 crore and above to 70% from 75% earlier.

Will Budget 2013 give the Indian real estate market enough lift to help it kickstart a sagging economy? Historically around the world real estate and infrastructure are sectors that can add a lift to the economy when it stagnates.

The passing year witnessed insipid growth in the residential property market, with buyers turning cautious and hoping for a price correction and lower home loan interest rates. The developers managed to hold on to the ticket prices of their projects, but were forced to offer discounts to generate sales.